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said about humility. when we look at john paul ii's end, many people came away with his public suffering and death as thinking he's teaching us how to die. and now look at this pope. he's teaching us how to be humble. i think it's a beautiful lesson from pope benedict. >> george, it's a complicated question. but in a word as briefly as you can, how do you see pope benedict's legacy? >> he's the pope who completed the work of the second council. with his predecessor gave that council an authoritative representation. they opened the door to the church of the third millennium, or as i've called it angel kal catholicism. benedict xvi will be the last pope to attend vatican two. so we're in an end moment. but he's prepared us well to walk through the door into an evangelical future. >> i want to pursue that catholic evangelicalism. i remember cardinal ratzinger before he became pope talked about making another stab at getting europeans back into the catholic church. making europe a less secular society. did he succeed? or is it just too difficult? >> well, he clearly made it one of
remember how pope john paul ii was so young when he was elected. i think he was 56 or 57. a young man. >> he used to go skiing all the time. >> he was elected when he was 78 years old. >> yeah. so we watched him turn into an elderly man that was very frail. remember how long it took, we waited and waited. i can remember i was on a plane when he finally passed. but he didn't -- i mean, he was not healthy at the end and he didn't resign. so that's what i don't really understand, ross, right? >> well, traditionally, they haven't resigned. so -- >> 1415, yeah. >> so he's 2005, he's 86. so that's five, six, seven, eight -- >> i think what we're all dancing around the issue of whether or not there's more to it, right? is that what we're getting at? >> is there something else we don't know about. >> all of them have gotten elderly and they have essentially died in office and that's when they begin to look for a new pope. that is no happening in this case. >> right. you said it would be pure speculation. it's probably best not to specula speculate, at least you filled us in that at this point
in the developed world. the italians had a claim on the papacy a long time until john paul the iind now, they had a poll and german in the seat and i imagine they would be interested having it back in italy. at the same time, there is very good talent outside europe that might be able to lead the church. i think they'll look widely but won't be simply geographical, what kind of vision will they have going forward and considerations of age and health obviously in this case. i think all those will be on the table. >> they say you want to live in interesting times. certainly, we all are going to get a chance to watch how the pope's voice is absorbed into this discussion by the conclave, right? how much of a voice will he have in this? >> caller: i suspect he will have very little or none. if he's prudent, i don't think he will try to appoint his own successor, let the cardinals choose one of their own because they have to live with the decision. this is an unprecedented situation. popes don't generally pick their successors and i don't think he will. my suspicion is he will retreat from the process
think he's said that? john reed has said that and paul volcker and many people who you spend time with. >> are you asking me why -- >> what do you think is -- >> well, paul volcker actually said something slightly different as you know. he has advocated the volcker rule, and i don't know the volcker rule, what it means, because nobody's defined it yet. and the reason, as you know, is that it is a very -- it is a line that will only be ultimately arbitrary. so, it's an issue that a lot of people engage with. i'll stick with what i said a moment ago. the focus is right. >> right. >> the focus of too big to fail is right. we had fannie mae and freddie mac. the question of how to address it i think is massively more complicated than these kinds of relatively in my opinion, limited proposals. >> right. >> i'll just say once again, i think it's really important, if you're going to get into this question of too big to fail, you have to try to figure out, if i take the risk away from here, where is that risk going to go and how do i deal with that? and i don't think anybody's come up with a go
and the relationship between jobless claims and the s&p 500. one reason, paul will tell you, he's still bullish because jobless claims, the four-week average, at a post-recession low. >> all right, john, you're sitting there on the trading desk all day long, see the flow. what kind of a commitment are you seeing in terms of equities? is it still as strong as it was earlier in the year in january. what can you tell us in terms of the sentiments on the part of big institutional investors? >> what we're seeing now is the dips are getting smaller and smaller so guys are not waiting for that bigger dip. they are buying smaller and smaller dips. that's why today we saw the walmart news coming out, but that dip was fairly bought pretty quickly so walmart was able to hold above its weekly moving average which was a positive sign. i think you actually broke the newsnews that that was an e-mail and voicing the opinions of one person at walmart so i think that was much ado about nothing. if we look at the empire p.m. this morning, very good. consumer confidence was good. things are getting better. washington is g
of fun. >> when we come back, the clock is ticking till midnight. we'll head to washington and ask john harwood about the latest negotiations right after this. later this morning, a cnbc exclusive house chairman paul ryan will be joining us live at 8:00 eastern time. it's the first time we'll be talking to him since the election. first, though, take a look at yesterday's winners and losers. revolutionizing an industry can be a tough act to follow, but at xerox we've embraced a new role. working behind the scenes to provide companies with services... like helping hr departments manage benefits and pensions for over 11 million employees. reducing document costs by up to 30%... and processing $421 billion dollars in accounts payables each year. helping thousands of companies simplify how work gets done. how's that for an encore? with xerox, you're ready for real business. [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ otherworldly things. but there are some things i've never seen before. th
Search Results 0 to 5 of about 6

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